WESTERN SPEEDWAY - CBRE · Mapping Services [email protected]; DMTI Spatial, Environics...
7
ROSS MARSHALL Personal Real Estate Corporation Senior Vice President 250.386.0004 [email protected] CHRIS RUST Personal Real Estate Corporation Senior Vice President 250.386.0005 [email protected] ALLON SHAPIRO Personal Real Estate Corporation Vice President & Managing Broker 604.662.5149 [email protected] ANGUS TONE Associate Vice President 604.662.5189 [email protected] WESTERN SPEEDWAY FOR SALE CBRE IS PLEASED TO PRESENT THE OPPORTUNITY TO ACQUIRE AN 80.97 ACRE SITE WITH 42.80 ACRES OF NET DEVELOPABLE COMMERCIAL LAND AND 3.34 ACRES OF PROPOSED NET DEVELOPABLE RESIDENTIAL LAND LOCATED 25 MINUTES FROM DOWNTOWN VICTORIA IN LANGFORD, BC. * 2207 MILLSTREAM ROAD, GREATER VICTORIA *Net usable estimates based on consultant studies. The commercial component is currently zoned CR1 (Commercial Recreation 1) and will be subject to a land use application with the City of Langford to change to the Business or Light Industrial OCP designation and the residential component will be subject to an OCP amendment and land use application with the City of Langford.
Transcript of WESTERN SPEEDWAY - CBRE · Mapping Services [email protected]; DMTI Spatial, Environics...
ROSS MARSHALLPersonal Real Estate CorporationSenior Vice [email protected]
CHRIS RUSTPersonal Real Estate CorporationSenior Vice [email protected]
ALLON SHAPIROPersonal Real Estate CorporationVice President & Managing [email protected]
ANGUS TONEAssociate Vice [email protected]
WESTERN SPEEDWAYFOR SALE
CBRE IS PLEASED TO PRESENT THE OPPORTUNITY TO ACQUIRE AN 80.97 ACRE SITE WITH 42.80 ACRES OF NET DEVELOPABLE COMMERCIAL LAND AND 3.34 ACRES OF PROPOSED NET DEVELOPABLE
RESIDENTIAL LAND LOCATED 25 MINUTES FROM DOWNTOWN VICTORIA IN LANGFORD, BC.*
2207 MILLSTREAM ROAD, GREATER VICTORIA
*Net usable estimates based on consultant studies. The commercial component is currently zoned CR1 (Commercial Recreation 1) and will be subject to a land use application with the City of Langford to change to the Business or Light Industrial OCP designation and the residential component will be subject to an OCP amendment and land use application with the City of Langford.
Western speedway2207 MILLSTREAM RD, VICTORIA
SALIENT DETAILSTOTAL SITE SIZE*80.97 ACRES
NET USABLE SITE SIZE*
CURRENT ZONING
OCP DESIGNATIONBUSINESS OR LIGHT INDUSTRIAL
OCP PROJECTED COMMERCIAL FAR1.75
PROPERTY TAXES (2019)$192,755
TENANCY DETAILS
INCOME**CONTACT LISTING AGENT **Operational income has consistently covered expenses and property taxes
*Net usable estimates based on consultant studies. The commercial component is currently zoned CR1 (Commercial Recreation 1) and will be subject to a land use application with the City of Langford to change to the Business or Light Industrial OCP designation and the residential component will be subject to an OCP amendment and land use application with the City of Langford.
COMMERCIAL TENANTS: MONTH TO MONTH (6 MONTHS TO 1 YEAR NOTICE)
RV PARK OCCUPANTS: DAY TO DAY (6 MONTHS NOTICE)
SINGLE FAMILY HOMES: SUBJECT TO RESIDENTIAL TENANCY ACT
2207 Millstream Rd 017-612-675 Commercial Recreation 1 (CR1)
No address 030-085-519 Commercial Recreation 1 (CR1)
2213 Millstream Rd 000-727-881 1 & 2 Family Residential (R2)
2217 Millstream Rd 005-418-101 1 & 2 Family Residential (R2)
2155 Millstream Rd 003-991-059 Rural Residential 4 (RR4)
COMMERCIAL: PROPOSED RESIDENTIAL: TOTAL:
42.80 ACRES3.34 ACRES46.14 ACRES
3
“
“
Western speedway2207 MILLSTREAM RD, VICTORIA
2207 Millstream Road provides the rare opportunity to acquire a commercial land site with significant scale and excellent proximity to Langford’s core and Downtown Victoria. The site is designated ‘Business or Light Industrial Centre’ in the Langford Official Community Plan. This designation slates the site for a master planned industrial business park as described in the following excerpt from the Langford OCP with a potential floor area ratio of 1.75 FAR. In addition to the commercial component of the property, the concept plan has proposed a single family residential area with net development size of 3.34 acres that would be subject to an OCP amendment
THE OPPORTUNITYThe property is being marketed through a competitive bid process with the date for submissions slated for June 18th, 2020 at 11:00am. All offers must be submitted in triplicate to the Vendor’s solicitor in a sealed envelope prior to this deadline. Qualified parties will be requested to execute a confidentiality agreement prior to gaining access to the data room. Extensive due diligence work has been completed in preparation for the site being marketed for sale and qualified parties will be provided access to this documentation after signing a confidentiality agreement.
AVAILABLE DOCUMENTS
THE PROCESS
*Sourced from City of Langford Official Community Plan | Bylaw No. 1200 | 39 & 40 | 2 Dec 2019
OBJECTIVE 3.14 ENSURE LONG TERM SUPPLY OR EMPLOYMENT TOOLS
• Policy 3.14.1 Develop and maintain an inventory of commercial and industrial floor space and remaining capacity to ensure that an adequate supply of employment lands is maintained.
• Policy 3.14.2 Ensure long term availability of land for light industrial, commercial and/or institutional uses.
• Policy 3.14.3 Promote high intensity business and light industrial development with smaller setbacks, smaller lots, multi-storey light industrial facilities.
BUSINESS OR LIGHT INDUSTRIAL CENTRE
Predominantly existing business parks and light industrial areas. • Predominantly business and light industrial precinct that supports a range of business uses • Parks, open spaces are integrated throughout the Centre where appropriate to serve users
and employees and green corridors (creeks, wildlife corridors, trails, etc.) that connect to other parts of the community where appropriate.
• Transit stops are located where appropriate
CONCEPT FOR BUSINESS OR LIGHT INDUSTRIAL CENTRE
OFFICIAL COMMUNITY PLAN DESIGNATION*
SUBMISSIONS WILL BE EVALUATED ON THE FOLLOWING KEY METRICS:
• Financial Consideration• Due Diligence Timelines• Closing Timelines• Deposit Structure
BID DATE: June 18th, 2020 at 11:00amPRICE: UnpricedOFFERING INSTRUCTIONS: Contained in Dataroom
TECHNICAL REPORT CONSULTANT
COMMERCIAL REPORTS
Geotechnical Report Ryzuk Geotechnical
Site Servicing Analysis JEA J.E. Anderson & Associates
Storm-Water Management Plan Colquitz Engineering Ltd.
Stream Protection & Enhancement Area (Approved by MOE) Aqua-Tex Scientific Consulting Ltd.
Phase 2 Environmental Site Assessment SLR Consulting (Canada) Ltd.
Traffic Impact Study Watt Consulting Group
Lidar Report JEA J.E. Anderson & Associates
3 Year Statement of Income from Operations Schibli Stedman King LLP
Wildland Urban Interface Wildfire Hazard Strathcona Forestry Consulting
RESIDENTIAL REPORTS
Geotechnical Report Ryzuk Geotechnical
Traffic Impact Study Watt Consulting Group
Storm-Water Management Plan Colquitz Engineering Ltd.
Sensitive Ecosystem Environmental Review Swell Environmental Consulting
The reports listed below have been managed by ESAI Corporation as development manager to prepare the property to be brought to market.
4 5
Western speedway2207 MILLSTREAM RD, VICTORIACO
NCE
PT P
LAN
6 7
NEW MCKENZIE INTERCHANGE
Western speedway2207 MILLSTREAM RD, VICTORIA
8 9
HIGHWAY 1 (TRANS-CANADA)
HIGHWAY I7Patricia Bay Highway
Western speedway2207 MILLSTREAM RD, VICTORIA
1
SHOPPING FACILITIES, RESTAURANTS & RECREATION
The Home Depot2
Save-On-Foods
3 Best Buy4
Staples5
Costco WholesaleMcDonaldsMilestones6
7
Langford Pharmasave8
Millstream Village Shopping9
Forbes Pharmacy Millstream10AB
OU
T TH
E N
EIGH
BO
UR
HO
OD
6
7
8
9
10
1
2
4
5 3
A&W CanadaAxe & Barrel Brewing Company11
12
Thetis Lake Regional Park13
Ida Anne Lake14
Florence Lake15
11
12
13
14
15
PROPERTY AERIALS
TOTAL SITE SIZE*80.97 ACRES
NET USABLE SITE SIZE*COMMERCIAL: PROPOSED RESIDENTIAL: TOTAL:
OCP DESIGNATIONBUSINESS OR LIGHT INDUSTRIAL
OCP PROJECTED COMMERCIAL FAR1.75
42.80 ACRES3.34 ACRES46.14 ACRES
*Net usable estimates based on consultant studies. The commercial component is currently zoned CR1 (Commercial Recreation 1) and will be subject to a land use application with the City of Langford to change to the Business or Light Industrial OCP designation and the residential component will be subject to an OCP amendment and land use application with the City of Langford.
MILLSTR
EAM
RD
10 11
SUBJECT PROPERTY
P L E A S E C O N T A C T :
This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation; to include all employees and independent contractors (“CBRE”). All references to CBRE Limited herein shall be deemed to include CBRE, Inc. The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved. Mapping Sources: Canadian Mapping Services [email protected]; DMTI Spatial, Environics Analytics, Microsoft Bing, Google Earth.
Western speedway2207 MILLSTREAM RD, VICTORIA
ALLON SHAPIROPersonal Real Estate CorporationVice President & Managing [email protected]
ANGUS TONEAssociate Vice [email protected]
ROSS MARSHALLPersonal Real Estate CorporationSenior Vice [email protected]
CHRIS RUSTPersonal Real Estate CorporationSenior Vice [email protected]
